🆕smLYK Promotion Campaign

Explore the SMLYK Promotion by Nodek within the DeFi360 ecosystem and enhance your experience with Homnifi’s decentralized finance solutions.

Users can use either of USDK Promo balances or their smLYK balances to burn and receive mLYK balance, boosting their linking amount. The campaign will run in four phases, each offering different burn percentages.

This guide explains how to participate, outlines the phases, and answers common user questions

Eligibility

To participate, users must meet the following conditions:

• Have an active NodeK Computer Device with available linking limits and active validity.

• Hold a balance of USDK Promo or smLYK in their Homnifi wallet, which can be transferred from Horysmall.

How to Participate

Step-by-Step Process

1. Transfer USDK Promo to Homnifi:

   • Go to the Horysmall platform and withdraw your USDK Promo balance to your Homnifi wallet.

   • Your USDK Promo balance will now appear in your Homnifi wallet dashboard under "USDK Promo."

2. Link More on NodeK:

   • On Homnifi, navigate to your NodeK Computer Device and click on the "Link More" option.

   • The system will display the mLYK linking amount and give you an option to enter the Promotion Campaign and burn USDK Promo.

3. Select mLYK to Link:

   • Choose the amount of mLYK to link which will auto calculate the burn eligibility. The burn will be deducted from primary smLYL wallet is it has balance and then USDK Promo balance. The amount available to burn will match certain % of the entered mLYK linking amount.

   • Example: If a user links $50 in a $100 machine, they can burn certain % (as per applicable burn % from table below) USDK Promo.

4. Select USDK Promo Burn:

   • The system will apply the burn percentage to the linking amount, allowing you to link smLYK and USDK Promo equivalent to the burn percentage value of the original link.

5. Finalize the Link:

   • The system will display the smLYK -> mLYK and USDK Promo -> mLYK conversion details for review.

   • Once confirmed, the linking amount will be applied, and your smLYK / USDK Promo will be converted to mLYK.

   • Both the manually entered mLYK and the mLYK received from burning smLYK and USDK Promo will be linked in the Device.

6. Monitor Your Transactions:

   • All transactions related to USDK Promo burns and mLYK links will be visible in your transaction history (see "Transaction Records" below).

Promotion Phases

Phase	Period	Normal Burn %	Boosted Burn %
Phase 1	18th Oct - 15th Nov	20%	25%
Phase 2	16th Nov - 15th Dec	15%	20%
Phase 3	16th Dec - 15th Jan	10%	15%
Phase 4	16th Jan - On-Going	10%	10%

Each phase offers a different burn percentage, encouraging early participation. During the campaign, you can enjoy boosted burn percentages when their linking amount exceeds the Computer Device purchase value.

Linking Rules and Conditions

• Eligibility Check: The selected NodeK machine must have available linking limits and active validity.

• Maximum Burn: Users can only burn USDK Promo and smLYK up to the burn % on the linking mLYK (entered by user).

• Burn Logic:

  • Normal Burn: Applies for linking amounts up to the device's purchase value.

  • Boosted Burn: Applies for linking amounts during the promotion phase, exceeding the device's purchase value.

• mLYK Award: Users will receive mLYK based on the amount of smLYK and USDK Promo burned and the current burn percentage for the promotion phase.

• USDK Promo and smLYK Conversion to mLYK:

  • USDK Prmo and smLYK is converted at the live price of LYK, and then converted to mLYK at a 1:1 ratio.

Transaction Records

You can track your linking and burning activities under the Transaction History section:

• USDK Promo / smLYK Burn Record: Logged in the NodeK transaction as a "Burn" transaction for the machine

• USDK Promo to smLYK Record: Logged in the smLYK wallet as a "Auto Swap" transaction.

• Linking Transactions: Recorded as per the normal linking process in Homnifi.

FAQs

1. What is USDK Promo, and how can I use it in this promotion?

USDK Promo is a promotional token available at Horysmall platform. you can transfer USDK Promo from your Horysmall account to Homnifi account.

2. How do I transfer USDK Promo from Horysmall to Homnifi?

You can withdraw your USDK Promo balance from Horysmall to your Homnifi wallet using the withdraw option in Horysmall. The balance will then appear in your Homnifi wallet dashboard.

3. How are the burn percentages calculated?

The burn percentage is applied to the amount you link. For example, if you link $100 during Phase 1, 20% of that amount ($20) will be burned primary from your smLYK balance and then from USDK Promo balance.

4. What happens if I exceed the device purchase price in linking?

If your total linking amount till date in the promotion phase meets or exceeds the device purchase value, the Boosted Burn Percentage will apply to the smLYK / USDK Promo usage, increasing the amount of mLYK you receive.

5. Can I convert my USDK Promo or smLYK to mLYK later?

No, the conversion from USDK Promo / smLYK to mLYK happens during the linking process at a 1:1 ratio. Once converted, it is immediately linked.

6. Is there a limit on how much USDK Promo I can burn?

No, There is no maximum limit on total USDK Promo you can burn during the promotion, however the machines max stake limit is applicable for staking. You can buy new machines and continue burning USDK Promo as per on-going phase percentage.

7. Where can I see the details of my linking and burning transactions?

All transactions related to USDK Promo, smLYK and mLYK linking are visible in your Transaction History under the NodeK section.